The aerospace industry, a sector with specific risks
Regulations, guarantees, compensation, etc., the aerospace sector is a highly specialised area of insurance. Verlingue has developed specific expertise in this field over many years and works with aerospace companies to insure their operations at the best possible prices.
Boosted by the recovery in demand for transport and travel, which has now surpassed pre-2019 levels, the whole aerospace sector has picked up again. Airlines, manufacturers and equipment suppliers, as well as airports and airport service providers, expect strong growth in the coming years.
However, the insurance market in this sector, which is characterised by the need for a particularly high level of responsiveness in the event of a disaster or crisis, is becoming much tougher, meaning an increase in insurance premiums is possible. Verlingue’s expertise in this specific segment is a decisive factor when dealing with the increasingly global nature of aerospace insurance and its highly specific codes and guarantees.
Verlingue accompanies you
Verlingue covers your operations in the two main segments of the aerospace insurance market:
• equipment manufacturers (OEMs), who supply components to manufacturers (airplanes, helicopters, launchers). The liability of equipment manufacturers may be sought by airlines or manufacturers in the event of an accident or incident;
• airport service operators (security, site surveillance, baggage handling, aircraft services), which are subject to various types of risk: terrorist incidents in the event of a security checkpoint failure, passenger complaints if a valuable object is broken, aircraft damaged during a service operation, etc.
In a highly regulated market with complex chains of responsibility and legislation that varies from one country to another, Verlingue’s experts help you optimise your insurance programmes in every country in which you operate. To do this, our consultants carry out an in-depth, tailor-made analysis of your risk exposure, in relation to both your customers and potential third parties (passengers), in order to negotiate the best coverage at the best rates with insurance companies.
Against the backdrop of tougher conditions in terms of eligibility and risk coverage, Verlingue also helps you highlight the value of all your risk prevention actions to insurers: processes, quality control, certifications, and staff training.
In the event of a claim, Verlingue and its team of compensation specialists work closely with you and mobilise the best expert engineers and lawyers, specialised in the field of aviation and aerospace. This tailor-made support and our in-depth knowledge of the sector guarantee solutions that are adapted to your activity, taking into account the highly technical nature of claims and the chains of responsibility, as well as the frequent sharing of risk coverage by several insurers within the same insurance programme.